This paper considers the problem of adaptive reliable guaranteed cost controller design for linear time-delay systems against actuator faults via dynamic output feedback. Based on indirect adaptive method, a new reliable dynamic output feedback controller is established. The controller gains are affinely dependent on the estimations of fault parameters, which are updating automatically according to the proposed adaptive laws. New delay-dependent sufficient conditions for the existence of the reliable guaranteed cost dynamic output feedback controller are derived in terms of linear matrix inequalities, which have less conservativeness than the corresponding reliable dynamic output feedback controller with fixed gains. An example is presented to show the effectiveness of the proposed method.